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Potentia Energy secures $553mn financing to support its Australian portfolio

Potentia Energy has secured $553mn in financing to optimise its operational renewable assets and support the delivery of six new projects totalling over 600 MW of capacity across Australia.

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Potentia Energy, a company formed through a joint venture between Enel Green Power and Inpex Corporation, has finalised a structured financing package of approximately AUD830mn ($553mn) aimed at consolidating its renewable energy asset portfolio in Australia. The funding supports both its existing solar, hybrid and wind assets as well as the development of new projects across multiple Australian states.

An international banking group involved

The financing arrangement was coordinated with the support of seven major financial institutions, including Bank of China, BNP Paribas, The Hongkong and Shanghai Banking Corporation Limited, Mizuho Bank, Société Générale, Sumitomo Mitsui Banking Corporation and Westpac Banking Corporation. This financing follows a portfolio-based structure, enabling the company to bring its operations under a single, more scalable platform.

Citi served as financial advisor for the transaction. Law firm Allens acted as legal advisor to Potentia Energy, while Ashurst represented the lenders. The financing also covers the delivery of six additional projects with a combined capacity of more than 600 MW.

Operational projects and a vast pipeline

Potentia Energy currently operates more than 800 MW of renewable projects in Australia. Its assets include the Bungala Solar Farms 1 and 2 (275 MW), Cohuna Solar Farm (34 MW), Girgarre Solar Farm (93 MW), Greenough River Solar Farm (40 MW), Royalla Solar Farm (23 MW), Clare Solar Farm (128 MW), and the 98 MW Quorn Park solar and battery energy storage system (BESS), currently under construction.

In parallel, Potentia Energy holds rights to a development pipeline exceeding 8 GW, positioning the company as a key player in the Australian energy landscape. An additional 200 MW is currently under construction, expanding its operational footprint.

Financial structuring for long-term growth

Law firm Allens, involved in the legal structuring of the deal, stated that the transaction allows Potentia Energy and its sponsors to consolidate their position in the Australian market while strengthening their ability to attract new financing for multi-technology projects. This approach reflects a growing trend in the sector, favouring large-scale integrated platforms for better risk and revenue diversification.

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